How competitive is the Phoenix housing market?

Phoenix is moderately competitive as of September 2026, with a Sold Score of 40/100 (Challenging Market Conditions). **Pending ratio** is 0.32 (contracts vs. active inventory) — anything above 0.40 is healthy demand, below 0.20 is slow. **Inventory change YoY** is +7.5% — more choices for buyers than a year ago. **Median days on market** is 62. Faster than 30 days means buyers are deciding quickly. **Price-reduction share** is 49.8% of active listings — above 25% signals sellers are widely overshooting list price. — Live indicators (September 2026): Sold Score: 40/100 (Challenging Market Conditions) · Pending ratio: 0.32 · Inventory YoY: +7.5% · Median days on market: 62 · Sellers cutting price: 49.8% · Median listing price: $475,000 (-4.8% YoY)